Government Of Odisha Approves INR 1.28 Crore Grant For 10 Startups The grant is aimed at boosting innovation and entrepreneurship in Odisha and supporting the growth of startups in different sectors
By Teena Jose
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The Government of Odisha approved a grant of INR 1,28,26,000 to 10 high-potential startups in the state. The grant is aimed at boosting innovation and entrepreneurship in Odisha and supporting the growth of startups in sectors such as agritech, food and beverages, HR-tech, enterprise technology, retail, education and logistics.
"In our relentless pursuit of fostering innovation and nurturing the entrepreneurial spirit, we are proud to announce this significant grant allocation. These investments in our state's startups signify our commitment to creating a thriving ecosystem where innovation knows no bounds. Our vision is to build successful startups by providing necessary financial aid, mentorship and guidance that will help them scale and grow," said Dr. Omkar Rai, executive chairman, Startup Odisha.
The grant was approved during the 2nd board meeting of Startup Odisha, an initiative backed by the Micro, Small, and Medium Enterprises (MSME) Department of Odisha. The meeting was chaired by Dr. Omkar Rai and participated by Saswat Mishra, Principal Secretary, MSME Department, Government of Odisha among others from Government, industry and academia.
As per the press statement, selected startups will receive the grant in tranches, based on their progress and milestones achieved. Also, the grant will be used to support the startups' research and development activities, product development and marketing activities, and other operational expenses.
The selected 10 startups are Axonotics, EME Technologies, Foliyoo Technologies, Indersons Services, Lex Protector, Sabhyasha Retail Tech, Happiness Under Budget, Zentai Workforce, Kickstart Careers and Manikstu Agro.
Startup Odisha under the MSME Dept. Govt. of Odisha as the Nodal agency for building the startup and innovation ecosystem in the state, came into existence in 2016 with Odisha Startup Policy-2016.
